SAEDNEWS: Japan has rejected the European Union’s (EU) proposal to expropriate frozen Russian assets worth approximately $30 billion, according to reports.
Japan has declined the European Union’s (EU) proposal to expropriate approximately $30 billion in frozen Russian assets, Politico Europe reported, citing sources from the European External Action Service.
According to these sources, Finance Minister Satsuki Katayama emphasized that Japan lacks the legal authority to dispose of Russian assets.
On October 2, Politico reported that EU members of the G7 had been pressuring Japan and the United States to seize Russian assets currently frozen by Tokyo and Washington.
Following the start of Russia’s special military operation, the EU, Canada, the U.S., and Japan froze roughly $300 billion in Russian assets. Of this total, about $5–6 billion are held in the United States, while the bulk—around $210 billion—is located in Europe, including at the Euroclear settlement platform in Belgium. Russian Foreign Ministry representatives have warned that Moscow will take immediate retaliatory measures if the West moves to confiscate its assets.
